Seaport Res Ptn Research Analysts Boost Earnings Estimates for nVent Electric plc (NYSE:NVT)

nVent Electric plc (NYSE:NVT) – Stock analysts at Seaport Res Ptn lifted their Q2 2024 EPS estimates for nVent Electric in a report released on Monday, May 6th. Seaport Res Ptn analyst S. Graham now expects that the company will post earnings per share of $0.83 for the quarter, up from their previous forecast of $0.81. The consensus estimate for nVent Electric’s current full-year earnings is $3.25 per share. Seaport Res Ptn also issued estimates for nVent Electric’s FY2024 earnings at $3.29 EPS, Q1 2025 earnings at $0.91 EPS, Q2 2025 earnings at $0.95 EPS, Q3 2025 earnings at $0.95 EPS, Q4 2025 earnings at $0.90 EPS and FY2025 earnings at $3.60 EPS.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Friday, May 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The business had revenue of $874.60 million for the quarter, compared to analysts’ expectations of $864.14 million. During the same quarter in the prior year, the firm posted $0.67 EPS. The firm’s quarterly revenue was up 18.0% on a year-over-year basis.

Several other research analysts have also recently weighed in on the stock. Royal Bank of Canada decreased their price objective on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a research report on Monday. Citigroup lifted their price objective on shares of nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft assumed coverage on nVent Electric in a research note on Monday, March 11th. They issued a “buy” rating and a $83.00 target price on the stock. Barclays raised their price target on nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, The Goldman Sachs Group upped their price objective on nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Monday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.00.

nVent Electric Trading Up 2.7 %

Shares of NVT stock opened at $82.07 on Wednesday. The company has a market capitalization of $13.63 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 1.63 and a beta of 1.35. nVent Electric has a 52-week low of $40.22 and a 52-week high of $82.30. The business’s fifty day moving average is $73.41 and its 200 day moving average is $62.65. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.35 and a current ratio of 1.99.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Thursday, April 25th. nVent Electric’s payout ratio is currently 22.16%.

Insider Activity

In other nVent Electric news, insider Michael B. Faulconer sold 10,961 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $67.33, for a total transaction of $738,004.13. Following the completion of the transaction, the insider now owns 33,109 shares of the company’s stock, valued at $2,229,228.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Michael B. Faulconer sold 10,961 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $67.33, for a total transaction of $738,004.13. Following the sale, the insider now directly owns 33,109 shares of the company’s stock, valued at approximately $2,229,228.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jerry W. Burris sold 4,008 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $63.39, for a total transaction of $254,067.12. Following the completion of the transaction, the director now owns 43,072 shares in the company, valued at approximately $2,730,334.08. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NVT. Element Capital Management LLC purchased a new stake in nVent Electric during the 1st quarter valued at $962,000. Blair William & Co. IL purchased a new stake in nVent Electric during the first quarter valued at $229,000. Orion Portfolio Solutions LLC lifted its holdings in nVent Electric by 12.5% in the first quarter. Orion Portfolio Solutions LLC now owns 34,576 shares of the company’s stock valued at $2,607,000 after acquiring an additional 3,843 shares during the period. Lord Abbett & CO. LLC boosted its position in nVent Electric by 25.3% in the first quarter. Lord Abbett & CO. LLC now owns 500,417 shares of the company’s stock worth $37,731,000 after purchasing an additional 100,962 shares during the last quarter. Finally, Kingsview Wealth Management LLC purchased a new position in nVent Electric in the first quarter worth about $258,000. 90.05% of the stock is owned by institutional investors.

About nVent Electric

nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.